IT Asset Management Software can be loosely defined as applications (whether on-premise or SaaS) that enable financial IT asset management and compliance. Asset management is the complex art of referring to facts and figures on a large scale to determine overall value and substance. It is often used when referring to large blocks of investments, such as many stocks and many bonds. The management, evaluation and eventual sale of these assets is notoriously difficult, and many kinds of software have been developed in order to get rid of most of the busy work. This software is also helpful in that is permits many more transactions to be conducted with a higher degree of accuracy, and with greater speed, than could be performed manually.
Advanced asset management software is designed to tap into an extremely large number of databases and trading groups in order to determine what the real, current value of a particular stock, mutual fund or piece of real estate happens to be. This is inherently complicated and as such, asset management software is generally very expensive, costing hundreds or even thousands of dollars. There are also usually additional fees for all of the networks that the software plugs in to. As such, larger pieces of asset management software are generally only used by investment banks and other organizations that have an extremely large amount of assets that they need to monitor. This software can even be organized to send alerts when certain thresholds are met, and to automatically buy or sell assets under user-determined conditions.
More simplified asset management software is designed for small businesses and local banks which may hold few investments and assets, and who have assets mostly in slow-growing investments such as real estate or government bonds. This software is much less expensive and more user friendly, but this comes at the cost of power, which it has in a much more limited form. The ability to connect to thousands of networks simultaneously is generally not needed by a small local bank or a minor investment firm, and so this excess power and connectivity would not be necessary anyway.
Asset management software should only be purchased from reputable companies whose success and honesty can be attested to by satisfied customers. Since asset management software handles a large amount of sensitive information, the opportunity for information theft is very high. The difference between good software and bad software is also noticeable, and so proven software is also the best bet when it comes to reliability and accurate assessments of the given data.